What did Karl Marx say about equity? How is his theory reflected in the modern economy?
Marx believing the was class conflict between the working class (proletariat) and owning (bourgeois). The proletariat does most of the work for the benefit of the bourgeois in exchange for a wage. This causes man to become alienated from his labor; man no longer produces for himself instead he produces for the sake of another. Essentially, it is the bourgeois who profit from the work of the proletariat (in terms of capital accumulation); the rich get richer and the poor get poorer. Essentially this labor relation will spread through the whole world (ex: globalization), thereby causing the proletariat to unite and cause a revolution to overthrow the bourgeois. Marx’s theory is reflected in the modern economy because of globalization and because in order for a communist revolution capitalism has to spread throughout the entire world first, thereby creating class unity between the proletariat class. Also greater income equality can also be seen in the modern economy.
